During 2020,SageCompany started a construction job with a contract price of $1,610,000. The job was completed in 2022. The following information is available.

2020

2021

2022

Costs incurred to date$380,000$847,770$1,069,000Estimated costs to complete620,000253,230-0-Billings to date302,000896,0001,610,000Collections to date272,000812,0001,418,000

(a)

New attempt is in progress. Some of the new entries may impact the last attempt grading.

Your answer is incorrect.

Compute the amount of gross profit to be recognized each year, assuming the percentage-of-completion method is used.

Gross profit recognized in 2020$

enter a dollar amount

Gross profit recognized in 2021$

enter a dollar amount

Gross profit recognized in 2022